In W39 in the tuna landscape, starting from September 25, the Mexican fleet will be allowed to harvest up to 7.3 thousand tons of bluefin tuna in specific waters under federal jurisdiction in the Pacific Ocean and marine areas within the Regulatory Area of the Inter-American Tropical Tuna Commission (IATTC) for the 2023/24 season. This fishery holds significant national economic importance. This authorization applies to individuals holding commercial fishing permits, concessions, and operators of Mexican vessels engaged in tuna harvesting. The National Commission of Aquaculture and Fisheries (Conapesca) decided to grant this permission, and the technical opinion of the National Institute of Fisheries and Aquaculture (Inapesca) supported this. This measure is anticipated to contribute to the recovery of bluefin tuna populations in the IATTC Convention area.
Moreover, failure to comply with these regulations or any violations will result in sanctions by the General Law of Sustainable Fishing and Aquaculture provisions. The Ministry of Agriculture and the Ministry of the Navy will oversee and ensure compliance with this agreement.
Vietnam's seafood industry remains cautiously optimistic about the future, with exporters exploring new markets and expecting growth from Germany and other countries despite facing challenges like high global inflation and rising oil prices. Tuna exports in Vietnam are anticipated to decrease by 15% from USD 100 million to USD 85 million, while canned tuna sales are projected to grow by 48% to USD 169 million.
Furthermore, Vietnamese tuna exports to major markets experienced significant fluctuations in Aug-23, with a slight 2% year-over-year (YoY) increase in the United States (US) market, primarily due to canned tuna exports. On the other hand, in the European Union (EU), Vietnam's tuna exports increased by 37% YoY. The decline in Vietnam's tuna exports has narrowed, and the export value is expected to return to the same period in 2022.
Lastly, the newly operational tuna processing facility in Zhoushan, located in East China's Zhejiang province, has a total investment of USD 166.7 million (USD 1.2 billion). This facility, recognized as the largest in China, boasts an impressive infrastructure of 216 sets of raw material thawing equipment and eight pre-processing production lines. It has a substantial daily processing capacity of up to 200 metric tons (mt), producing approximately 72 mt of finished fish fillets. Funded by Zhejiang Ocean Family Co., this state-of-the-art facility is poised to play a significant role in developing Zhoushan as one of the premier tuna processing and transaction hubs globally.